Building Industry Partners (BIP), the investment firm that helped create or fund US LBM and Kodiak Building Partners, announced today the formation of U.S. Fence Solutions Co. as a vehicle to invest in Split Rail Fence & Supply Co., a fencing and installation business serving Colorado's Front Range.
U.S. Fence will be led by Allan Breidenbach, a former US LBM vice president who has become a BIP operating partner. Split Rail Fence was founded in 1974 by Tom Barenberg and has more than 120 employees at its locations in Littleton and Dacono, Colo. With the investment, Breidenbach becomes Split Rail's president and Barenberg will remain in the company's management and as a significant shareholder.
"Tom and his associates have built one of the finest integrated distribution and installation businesses we’ve encountered," Matt Ogden, founding and managing partner of BIP, said in a news release. "Foremost, our mission will be to preserve Split Rail’s longstanding formula for success. I know Allan, Tom, and the team are also excited to collaborate in finding ways to make Split Rail an even better supplier, customer, and employer in the Front Range community.”
Breidenbach also is CEO of U.S. Fence Solutions. Previously, he was vice president of US LBM's Wisconsin Building Supply subsidiary, where his leadership helped the company grow sales by 150% in four years and helped the dealer get named as US LBM's operating company of the year in 2015.
"U.S. Fence Solutions will actively seek to partner with, and/or acquire, strong independent fencing distribution and installation businesses in additional U.S. markets," BIP added at the end of its news release announcing the deal.
BIP said it has co-founded and/or served as equity capital sponsor for US LBM, Kodia, Rugby Architectural Building Products, United Cabinet Holdings, Building Industry Advisors, Homewood Holdings, and now U.S. Fence Solutions. (Editor's Note: Building Industry Advisors partner Michael Collins writes a column for ProSales.)